As part of a money laundering investigation, the Enforcement Directorate (ED) has detained Roop Bansal, one of the promoters of the real estate company M3M Group. Eight days before to the arrest, the investigation team discovered that IREO Group and M3M Group, two real estate companies, had been laundering more than Rs 400 crore.
In accordance with the Prevention of Money Laundering Act (PMLA), the ED conducted search operations at seven IREO Group and M3M Group-owned facilities in Delhi and Gurugram on June 1. The firms were under investigation for allegedly diverting, syphoning off, and misappropriating funds, according to officials.
Other promoters of both firms are reportedly being investigated and may shortly be called in for questioning, according to sources who spoke to India Today.
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